Fetch.ai is taking a bold step into startup innovation with its new global accelerator program. The blockchain-AI company has established innovation hubs across San Francisco, London, and India. Their vision centers on nurturing early-stage tech companies through a $10 million annual innovation fund. The program combines practical support with access to Fetch.ai’s advanced AI and compute resources.
Startups joining the accelerator will work with industry experts while developing AI, quantum computing, and high-performance technology solutions. This initiative marks a significant shift in how blockchain companies approach technological development.
Fetch.ai Expands Global Reach with $10M Innovation Fund and Three Strategic Hubs
Fetch.ai’s new startup accelerator operates through strategically positioned hubs in San Francisco, London, and India, each offering unique regional advantages. The San Francisco hub, launched in August 2024, focuses on AI agent development and practical business applications. The London facility, established in partnership with Imperial College’s I-X research institute at the White City Campus, emphasizes academic collaboration and research advancement.
The accelerator’s $10 million annual innovation fund provides substantial backing for participating startups. Beyond financial support, the program offers a multi-faceted approach to startup development. Participants receive hands-on mentorship from industry leaders and exclusive access to Fetch.ai’s advanced computing capabilities and AI agent technology. The program maintains year-round support through ongoing initiatives. In addition, Fetch.ai plans to host two to three innovation competitions annually across its global network.
$10M Innovation Fund Launch Coincides with Upcoming Token Burn
This launch falls around the same period, with a token burn of 5 million FET tokens scheduled for tomorrow, Jan 10, 2025. The token burn aims to optimize the ecosystem’s token supply dynamics. The platform has demonstrated strong growth metrics, processing over 24 million mainnet transactions and maintaining over 130,000 active wallets.
FET currently trades at $1.28. The token has experienced some volatility in recent sessions, moving between $1.44 and $1.50. However, since the launch was announced today, the effect has not been seen on the token’s price action.
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